Registering a company is the most important task before starting a business in a legal way. Whether it’s a private limited company registration, partnership, proprietorship firm or limited liability partnership registration, a business should get incorporated based on its nature of business, organizational structure and its fiscal status. When it comes to Delhi, which is one of the most preferred investment hub, a business group or individuals must fulfil the statutory compliances recommended & suggested by Ministry of Corporate Affairs and its concerned authorities before executing their business plans.
Registering a company is still considered as tedious task because of involvement various legal formalities. Here we will try to discuss the simplest way of company registration in India. Initially the form processing were done manually from the back – end teams (still operational) but after initiation of MCA21 portal the formalities became simpler and faster. Below are comprehensive details of the documents & schedules to register a company in India.
Mandatory Requisites Before Process Initiation
Minimum Authorized Capital Rs 1,00,000.
Minimum Two Directors
Pan Card of Each Directors
Address Proof of Each Directors
At least Two Photographs Of Each Directors
Business Premises/Office Address Proof (Rent Agreement Valid)
Phase I Initiated
Day 1: Processing of DIN (Director Identification Number) & DSC ( Digital Signature Certificate).
Day 2: Awaiting DIN & DSC -> DIN & DSC Received.
Day 3: Name Availability Check & Name Approval Application In Progress.
Day 4: Pending For Action -> Assigned-> Pending For Approval/re-submission.
Day 5: Name Approved.
Phase II Initiated
Day 6: MOA ( Memorandum Of Association) & AOA (Articles Of Association) Drafted.
Day 7: Processing of Incorporation Application
Day 8: Pending For Action -> Assigned-> Pending For Approval/re-submission.
Day 9: Certificate Of Incorporation Issued.
Day 10: PAN (Permanent Account Number) of Company Applied.
Once our company got Incorporated, we may take a leap towards our working & get the relevant certificates related to our nature of business. For example if we are providing services then we fall into service provider category hence liable for Service Tax Registration. On the other hand if our business relates sales & purchase of products & commodities then we must opt Sales Tax registration.
These both certificates helps us in smooth operations in terms of billings & quotations.
It is always recommended that we should consult a legal or financial consultant prior to starting a business as it involves some legal issues that can be resolved by taking help of the experts in private limited Incorporation.